Radiotherapy positioning start up Navotech raises $10m. in new round
Posted By ISRAEL21c Staff On June 17, 2009 @ 12:00 am In | No Comments
Jun. 17 - Israeli radiotherapy positioning start up, Navotek Medical, has raised some $10 million in a financing round led by Giza Venture Capital. Existing investors Agate Medical Investments, Wanaka Capital, Bridge Investments Fund, and chairman and co-founder Dr. Shimon Eckhouse, also took part in the round. Navotek was founded four years ago and develops products to precisely locate and track tumors. This leads to greater efficiency in radiotherapy and chemotherapy, and a reduction in damage to healthy tissue. The technology is based on a tracer implanted in the growth, which can be tracked during treatment, even if the growth moves. It is used in prostate surgery and other soft tissue treatment. This is the third year in a row that the company has raised financing. All together it has raised a sum of about $25 million. Navotek hopes to receive US Food and Drug Administration (FDA) approval in the second half of this year.
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